Brokerages Anticipate Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) Will Announce Quarterly Sales of $111.62 Million

Wall Street analysts forecast that Amphastar Pharmaceuticals, Inc. (NASDAQ:AMPH) will post sales of $111.62 million for the current quarter, Zacks reports. Four analysts have made estimates for Amphastar Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $109.00 million and the highest estimate coming in at $116.39 million. Amphastar Pharmaceuticals reported sales of $95.92 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.4%. The firm is expected to issue its next earnings report on Monday, March 21st.

On average, analysts expect that Amphastar Pharmaceuticals will report full-year sales of $428.49 million for the current year, with estimates ranging from $425.80 million to $433.27 million. For the next financial year, analysts forecast that the firm will report sales of $470.41 million, with estimates ranging from $454.40 million to $484.63 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that follow Amphastar Pharmaceuticals.

Amphastar Pharmaceuticals (NASDAQ:AMPH) last released its quarterly earnings results on Monday, November 8th. The company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.22. The firm had revenue of $112.20 million during the quarter, compared to analysts’ expectations of $103.00 million. Amphastar Pharmaceuticals had a return on equity of 12.28% and a net margin of 8.74%. During the same quarter in the prior year, the business earned $0.09 EPS.

Several equities research analysts recently issued reports on the company. Piper Sandler raised Amphastar Pharmaceuticals from a “neutral” rating to an “overweight” rating and upped their price target for the company from $21.00 to $28.00 in a research report on Friday, January 7th. Zacks Investment Research lowered Amphastar Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, TheStreet raised Amphastar Pharmaceuticals from a “c+” rating to a “b” rating in a research report on Wednesday, October 20th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Amphastar Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $23.75.

Shares of Amphastar Pharmaceuticals stock traded up $0.46 on Friday, hitting $25.37. 149,616 shares of the company’s stock traded hands, compared to its average volume of 262,412. The stock has a market cap of $1.21 billion, a P/E ratio of 35.24 and a beta of 0.72. The company has a quick ratio of 2.08, a current ratio of 3.10 and a debt-to-equity ratio of 0.18. The firm’s 50-day moving average is $21.97 and its 200 day moving average is $20.44. Amphastar Pharmaceuticals has a 52-week low of $16.91 and a 52-week high of $25.87.

In other news, CFO William J. Peters sold 10,000 shares of Amphastar Pharmaceuticals stock in a transaction that occurred on Thursday, November 11th. The stock was sold at an average price of $21.33, for a total transaction of $213,300.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO William J. Peters sold 1,744 shares of the business’s stock in a transaction on Thursday, December 16th. The shares were sold at an average price of $22.40, for a total value of $39,065.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,308 shares of company stock valued at $2,573,255. Company insiders own 28.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. FORA Capital LLC acquired a new stake in shares of Amphastar Pharmaceuticals during the second quarter worth $27,000. Lazard Asset Management LLC acquired a new position in Amphastar Pharmaceuticals in the second quarter valued at about $70,000. Royal Bank of Canada grew its stake in Amphastar Pharmaceuticals by 253.4% in the second quarter. Royal Bank of Canada now owns 3,534 shares of the company’s stock valued at $71,000 after acquiring an additional 2,534 shares during the period. Strs Ohio grew its stake in Amphastar Pharmaceuticals by 14.6% in the third quarter. Strs Ohio now owns 4,700 shares of the company’s stock valued at $89,000 after acquiring an additional 600 shares during the period. Finally, First Mercantile Trust Co. acquired a new position in shares of Amphastar Pharmaceuticals during the third quarter worth about $105,000. 58.18% of the stock is currently owned by institutional investors and hedge funds.

Amphastar Pharmaceuticals Company Profile

Amphastar Pharmaceuticals, Inc engages in the development, manufacture, market, and sale of technically challenging and proprietary injectable, inhalation, and intranasal products. It operates through Finished Pharmaceutical Products and Active Pharmaceutical Ingredients Products segments. The Finished Pharmaceutical Products segment manufactures, markets, and distributes Primatene Mist, enoxaparin, naloxone, phytonadione, lidocaine, and other critical and non-critical care drugs.

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